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1. Morris, Inc. Corporation purchased equipment with a fair value of $600,000 on a 6 percent note. The note requires five end-of-year payments of $142,438. What would be the carrying value of the note immediately after the second payment?
2. Doremi, Inc. had Net Income of $125,000 in 2008. Doremi had 8,000 shares of 3% $75 par value preferred stock outstanding during 2008 and declared preferred dividends in 2008. Doremi had 60,000 shares of common stock outstanding at the beginning of 2008 and had only one transaction during 2008—they reissued 6,000 shares held in treasury on Sept 1st 2008. The basic earnings per share for 2008 is:
A goal of the process value analysis (PVA) is to reduce non value-adding activities. Outline a procedure a company could use to accomplish this goal.
It sold 150 units for $45 each from March 1 through December 31. If the company uses the Last-In, First-Out inventory costing method, illustrate what is the amount of Cost of goods sold on the December 31 income statement
If Soule Company had net income of $585,000 in 2011 and it experienced a 30% increase in net income over 2010, what was its 2010 net income?
1 which answer is false?a. the concept of working capital is a basis for determining liquidityb. the working capital is
Build a model to help a company determine gross profit. Gross profit is simply the excess of revenues over expenses. The company’s total costs contain both fixed and variable costs. Fixed costs are the same no matter how many units they sell, and var..
Redfield Company reports current earnings of $420,000 while declaring $52,000 in cash dividends. Snedeker Company earns $147,000 in net income and declaring $13,000 in dividends. On January 1 of the current year, Snedeker acquired in the open market ..
This deposit will not be returned to Dodd upon expiration of the lease but will be applied to payment of rent for the last two years of the lease. What portion of the $400,000 should be shown as a current and long-term liability in Kiley's Decembe..
Based on retail sales estimates from the state Department of Revenue, additional sales taxes were accrued in the amount of $40,000. On December 31, 2014, $500 of interest was accrued on the investment in Treasury notes. Fair market value of these no..
Discuss the concept of the Transfer pricing and the benefits and drawbacks ofTransfer pricing
Create a new policy of pay structure for each type of employee based on your research - Conduct research to locate alternative methods of pay structure for Big Ed''s. Prepare a memo to Ed Silver that identifies a minimum of one alternative pay str..
Under what circumstances might Armstrong use a different cost accounting system - Finding the circumstance might Armstrong use a different cost accounting system.
In 1996, crime was seen as the most important social issue, followed by health, education, unemployment, the environment.
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